The years of COVID marked a massive migration movement in the US, and while movement has slowed down since, many Americans are still itching to relocate.
While we don't have the exact numbers for 2024 yet, it's safe to say that the number of state-to-state moves ranges in the millions. In 2022, roughly 8.2 million Americans picked up their bags and crossed state lines to find a new home.
With so many people moving from state-to-state, that could mean more tenants at your self storage facility. They might need a secure place to store their belongings while they're house hunting or just getting settled, and you could be their solution. However, some self storage operators may be more impacted than others. Some states actually lost residents in 2024, while others grew in surprising numbers.
For several year, a number of states have been leading the polls in population growth due to domestic migration (people moving from state to state). Most of states hail from the southern region, though there were some surprise states on the list.
States with the highest number of in-bound moves in 2024:
The southern states have proven to be a popular destination; however there were several standout states this year in the west and northeast. People often moved to these states due to housing, familial changes, climate, and employment.
If you're a self storage operator in the south, you may have a better year than most! As the southern states have ranked high on the list for several years, we can assume they'll rank well again in 2025.
While the states have been ranked, so have the cities! Some cities have seen more growth than others, which potentially means more tenants in these areas.
Cities with the highest numbers of in-bound moves in 2024
Of course, these lists don't represent all of the states and cities that have seen growth. For a more comprehensive look at your state, you can visit the United States Census Bureau.
Now, what can we expect in 2025 and how will your self storage business be affected?
In all honesty, it's hard to say. Nobody can predict the future, after all! However, unless something significant happens, the last few years of moving trends are likely to carry over into 2025. We know that many movers are looking for more affordable housing without sacrificing their quality of life. According to movers, the highest ranking states of 2024 tend to match these characteristics.
There's also the question of return-to-office policies. Major companies like Amazon and Disney are implementing stricter in-office policies in 2025, which could lead to employees resigning and moving for a different job. It's reported that 8 in 10 employers have lost talent since implementing in-office work days.
States with strong job markets and other desirable characteristics could continue to see an increase in in-bound movers, meaning self storage owners in those states could see an increase in tenants.
As a self storage operator, what can you do to attract these out-of-state-customers?
First and foremost, have a great website! If these customers are moving from out of state, they'll most likely search online for a storage facility. This is your chance to be one of the first sites they see, showing them why you're the best choice in town. Having online rentals and payments is also helpful as they'll most likely start renting before they've even crossed the state line.
Offering special discounts for those moving out of state could attract in-bound customers, too. After all, their moving expenses are probably already high, so a storage unit discount would sound appealing!
You can also have an impact by being a great resource for these new tenants. If you can give them directions, recommendations, and other helpful tips on how to get around town, they'll remember you for it.
No matter what state you're in, you should always have a way to connect with out-of-state-customers and be ready to help them on their journey to their new home.
